- ARAG Services Australia Pty Ltd
Lodged on behalf of:
- HDI Global Specialty SE
The Applicant (ARAG Services Australia Pty Ltd) proposes to offer legal expense insurance (LEI) to customers in Australia, which will be underwritten by HDI GLOBAL SPECIALTY SE (HSAB).
LEI is a type of insurance which covers policyholders against certain legal costs and expenses of legal action brought against the policyholder by another individual or institution, or against certain legal costs and expenses of legal action initiated by the policyholder, provided that the initiated action has a certain potential of success.
Consistent with the Applicant’s products offered overseas, cover under the LEI product will be subject to the customer using an appointed legal advisor chosen by ARAG and retained by the policyholder.
ARAG will be able to refuse to provide further legal costs and expenses associated with a claim where a policyholder refuses to settle a claim following advice from an appointed advisor to do so.